By TONY VINDELL
Special to the NEWS
Anyone who owns a home or a business in the Rio Grande Valley should have the 2022 appraised values by now. If not, they should be getting them soon.
But for many taxpayers, it is going to be the surprise of their life as many of these values have increased not by 10 percent but up to 100 percent in some cases.
According to regulations, the state caps property value increases at 10 percent each year but new home and commercial property owners are exempt.
Tax assessors do not evaluate each home or property per se as they rely on spot checking and on the average home value in a particular area because of the number of structures.
That can result in exorbitant values that translate into excessive property tax bills that start arriving in the mail during the month of October.
Homeowners like Remberto Arteaga and Gil Bristow said the new appraised values are ridiculous. One said two of his properties in Los Fresnos went from $60,000 to $100,000 and from $90,000 to $140,000 while the other property on South Padre Island went from $284,000 to more than $680,000.
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